As a CPA firm owner, you will agree the “let’s try this” attitude doesn’t work when it comes to growing the business through marketing. It is vital to have a proper plan in hand to take up new things systematically.
We at QXAS always emphasize having not only a marketing strategy but also a breakdown of activities to execute that strategy. After all - the end goal is to realize pre-defined business objectives.
If you are thinking of creating one for your CPA firm, here are five steps to go about the process. Let us know what you think:
1) Define business objectives
Ask yourself questions like these and put them in the form of numbers. Additionally, identify your strengths and weaknesses. Where does your CPA firm? What are your USPs? Note down every single detail to have a holistic view of your business.
Your objectives should be clear in your head before anything else, and that isn’t possible if you don’t do a bit of analysis of your CPA firm.
2) Revise your target audience
Your CPA firm could be doing well with the current audience, but it is also important to identify other communities that could need your services. Identify those consumers.
For instance, if you are currently working with accounting start-ups or boutique firms, you could try and reach out to the bigger players in the market if your service portfolio can offer the services they want.
If you outsource, speak to your accounting outsourcing service provider to understand the services they can offer to high-end clients. Factor in the market size, industry trends and skill gaps to chalk out the revised target audience.
3) Select your communication channels
From having a website and social media channels to blogging and sending newsletters - there are a lot of platforms on which you can market your CPA firm. If you haven’t invested in attending or organizing events or doing print advertising, pick a small piece of the budget for that.
Irrespective of what your target audience is with, your marketing plan should be a mix of online and offline activities.
4) Determine the frequency of your marketing activities
That could include deciding the number of:
Your marketing plan should contain such details so that when it comes to initiating it, your team doesn’t waste time and gets to work.
5) Decide a budget
Because to make money, you need to spend it! In this age and time, nothing comes for free. Outsourcing accounting work is an investment, so is marketing. Even if you want to increase website traction, you have to spend money on Google Adwords or run other paid campaigns.
Additionally, you may require new software or tools to carry out marketing activities. Anything related to events or webinars costs money, and so does guest blogging and PR.
Make sure you take into account such activities and set aside a budget for easier execution.
Outsource to make time for marketing
We understand how chaotic it gets for CPA firms who manage books, do payroll, prepare taxes and so on. What they need is someone to help them with such time-consuming tasks.
Outsourcing accounting work is a viable option for such CPA firms. An accounting outsourcing service provider, for instance, will take care of such labor-intensive tasks for you so you can focus on growing your business.
Over to you
Marketing has gained much importance in the last five years thanks to crowded marketplaces, high competition, and fast-paced communication. That’s where creating a high-level plan to establish your CPA firm’s position in the market is vital.
Are you ready to create yours?
Also - if you are thinking of outsourcing your accounting work to free up time to work on your marketing plan, contact us at 1-800-9312-310 or email us at firstname.lastname@example.org.